MIT released blockhain-based diplomas

Over 100 graduates of Massachusetts Institute of Technology received blockchain-based digital diplomas
21 October 2017   1361

More than one hundred graduates of the Massachusetts Institute of Technology (MIT) received digital diplomas issued using blockchain of Bitcoin. This is reported by CoinDesk.

As representatives of the university explained, the Blockcerts Wallet application was used to issue "verified" and "counterfeit" digital versions of diplomas. The software project also involved Learning Machine, which last year, in conjunction with the Laboratory of Media Lab Massachusetts Institute of Technology was developing an open standard called Blockcerts.

From the beginning, one of our primary motivations has been to empower students to be the curators of their own credentials. This pilot makes it possible for them to have ownership of their records and be able to share them in a secure way, with whomever they choose.
 

Mary Callahan
Registrar and senior associate dean, MIT

According to representatives of the Learning Machine, MIT - one of the first universities in the world that issued education documents using the technology of the distributed registry.

People can own and use their official records, which is a fundamental shift.
 

Chris Jagers
Co-founder and CEO, Learning Machine

According to him, security provided by blockhain is much more important than other aspects, such as speed, costs or ease of use.

It should be noted, however, that the diploma itself is not kept in the blockchain - the system only provides a timestamp, which indicates that MIT has created a digital record for a particular certificate. At the same time, these data are enough to allow graduates of the university to confirm the diploma availability in the future.

Old Korean Social Network to Close After Tokensale

Cyworld platform started operating back in 1999 and it conducted an IEO at CoinZest this year
14 October 2019   49

Investors who acquired the clink cryptocurrency issued by the South Korean social network Cyworld are worried about the status of their investments due to the company's sudden closure, reports Korea Times. Some of them are ready to go to court.

The Cyworld platform was launched in 1999 and was especially popular among the country's population until the mid-2000s. The company, however, failed to see the trend towards the development of mobile solutions on time and as a result lost its position in the market. On October 1, it closed her platform without posting any warnings to users.

At the same time, the Clink site was unavailable, and Cyworld management continues to ignore the numerous requests of investors. The Korean exchanges CoinZest and BitSonic, where Clink is still being traded, are considering delisting the asset. Industry officials say Clink's investor losses will be at least 1 billion won ($ 845,000).

Clink's primary distribution was through IEO through the CoinZest platform earlier this year and, according to the Korea Times, it was the company's attempt to bring a fading social network back to life. A total of 24 million Clink tokens were sold for a total of 480 million won ($ 400,000).

In the second half of 2019, employees who have not received salaries since the end of 2018 began to leave the company en masse. Since the start of trading, the Clink price has fallen from 26 won to 0.19 won. According to the Coingecko portal, Clink's current capitalization and revolving volume are unknown, while the marginal issue volume is 10 billion units.